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tv   Street Signs  CNBC  August 30, 2013 2:00pm-3:01pm EDT

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>> for those of you waiting for news on the best sectors so far this august, consumer discretionary did extremely well in a market that's down about 4% on the dow. there you go. it's not spectacular, but it was in essence, of course, a poor month for the markets. >> have a good long weekend. do does it for "power lunch." "street signs" begins right now. >> absolutely, right now. are we just days or even hours away from launching a mile of strike against syria? less than an hour ago secretary of state john kerry made more strong statements about syria and its use of chemical weapons against its own people. america preparing for what would likely be a unilateral action. the market is spooked, mandy, heading into the long holiday weekend and it's really going to be a weekend and perhaps the entire month of september fraught one certainty. >> welcome to our viewers around the world. let's go straight to the white house and our very own john harwood. the secretary of state did not
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mince his words. seems like the message is very clear. >> gave a very strong statement, mandy, about the evidence that he believes the united states has and what the united states' responsibility is to act in the face of that evidence. that was the beginning of an effort which is ongoing. there was a conference call i just got out of to get in for the live shot in which they were laying out communications intersepgts that they had gotten that indicated that officials in the chain of custody of chemical weapons were in the particular area where they were used and had exchanged information indicating that they were affirming that use. john kerry had a broader message that he gave to the entire country, and what he really said was is now is the time for us to act on what we know. here's john kerry. >> this is evidence. these are facts. so the primary question is really no longer what do we
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know? the question is what are we collectively, what are we in the world going to do about it? >> reporter: the other question is when do we do something about it? we expect to hear from president obama within the half hour at a pool spray. he's meeting with leaders of baltic nations. we expect that he is going to address this situation. i will also say, mandy around brian, on the conference call that i was on, the administration officials were asked about evidence they had directly linking president assad of syria to the launch of chemical weapons which is something that john kerry said assad had done, and what the officials said was we believe that, and we've always said that, assad is the responsible party, so if they are used by his regime, he is responsible. that suggests they do not have direct evidence linking bashar al assad to the use of these weapons. >> john, thank you very much. appreciate it. joining us live on the cnbc
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newslong is congresswoman jackie walorski from indiana. she will be on a conference call asked ultd for 2:15 eastern time. what do you expect to hear from the president and what will you ask from the president? >> appreciate it. what i want to hear from the president as commander in chief he's got to talk to the american people, he's got to make the case himself to the u.s. congress and i'm going to be asking questions that i think are pertinent of comments that he made about a shot across the bow, about sending a symbol and signal and questions have to be asked about where are those chemical weapons stockpiles now? who are tracking those stockpiles and what happens if our greatest ally is sitting on the syrian border when we're talking about the verification of chemical weapons. the mesh people need to know what is this plan? what is our national interests and the end game? those are the answers that's i'm
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seeking what, i want to hear and what folks in indiana want to hear. >> very quickly, do you believe the american people are behind this? they obviously have clear in their memory the events that happened in afghanistan, libya, iraq. there's promises out that this won't be a similar situation. do you think the american people support this move? >> i think the american people want congress to have a say in this and they want to make sure there's an international ally group that will be a part of this. that's the responsibility of the commander in cheefshs and i think the american people understand that. i think that's why the american people are saying that congress is involved in this decision so that's why i'll be on the phone call in ten minutes. >> congresswoman, that's my question to you. where are our allies? we understand what happened in the uk. maybe we have some support from france. where is the rest of the world that john kerry just mentioned? america going alone again into syria, into the middle east here setting us apart. we need global support. where are the allies? >> that's my question as well.
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in addition to the strategy of what we've heard talked about the president, the shot across the bough, what kind of strategy is that in an area where everything is a domino game. one small move by the united states will affect everything over there in the middle east and our greatest ally is sitting on the board we are syria right now and i have a lot of questions i want answered. i join the folks of america in seeking the solutions and answers, and that's why i'll be on the phone call asking the same questions you're asking today. >> we hope you get some answers. thank you very much for joining us. let's bring in bob pisani and walk us through exactly what will happen to the market in the event of an attack on syria. >> going to be very interesting. everybody agrees on the concept that an initial attack short and stark, stocks will be down, bonds will real and gold will rally, and the overall market will be down, stocks down. the bigger problem is what happens if there's a more protracted game? if we're in this, an attack goes
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on and we're still somehow involved two weeks later then you get bifurcation in the markets. then we'll see other groups moving to the downside. material stocks will move down, commodity stocks will move down and gold will likely stay up but consumer stocks perhaps will be okay. we'll see dividend payers okay but other groups will be moved into the downside and in particular discretionary stocks. home building stocks and retail stocks. start getting bifurcations in the market and concerns about global growth, mandy. that's what people are real worried about, the unknown unknowns. >> riddle me this. why is global down? on the global growth concerns? >> oil has practically gone parapolec in the last couple of weeks. >> it is down today? >> look at the tenor of senator kerry's speech, thought it was a brilliant speech. talked you have to in the beginning saying the u.s. makes its own decisions on its own time lines and that's when the markets moving to the condition side, talking tough and at the
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end he said we're talking about a limited and tailored response. he said there eeno ultimate military solution and on every word that indicated hawkish markets moved down. more dovish, the markets moved to the upside overall. >> all right. bob, thank you very much. >> let's bring in matt mccormick, vice president and portfolio manager and on set with us steven wood, chief market strategist at russell investment. first off, steve, i know you're ready to go on a global tour for your k.as a guy, very macro focused guys, where is syria on your list of concerns? do you change your client recommendations because of what's going on? >> in the shorter term this is a great human tragedy and the strategic consequences could be more significant than the initial signs dictate but from a
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longer term perspective we've seen military interventions create the initial downdraft that bob spoke to earlier. even within a matter of months you can see some recovery in the markets. security selection and since the bernanke speech of may a lot of people are questioning why do i have fixed income in the portfolio and we've been reminding them it's for moments like this when you need the seat belt in the car because you don't know when the bumps hit the road. we won't change dramatically. we'll get our shopping list ready. >> it's really interesting and, bob, you've been beating this drum this morning, despite all the headwinds and the escalation of syria thrown into the mix as well, over the past three months of summer the market is kind of flat. don't you think that the market is pretty resilient when you think about everything it's had thrown at it including all the talk of taper? >> mandy, you're correct. it's been very resilient, i would call it optimistically complacent, but it seems geopolitical events are going to
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add another layer of volatility to the market going forward. everyone is discussing tapering and everyone is discussing the federal debt negotiations and on top of that a weak earnings environment adding to what i think is a very bumpy ride through the end. year. i think when you look at syria it appears to me that it will be imminent in terms of potential missile launches, but the multiplier effect and ripple effect is what's causing some investors to have some concern and if that's the case i would go to a very conservative stock that provide needs, not wants and have dividends and give you downside protection. those will be the antidote to an upcoming volatile ride. >> a little bit low and when we get flow data, it shows $18 billion went into equity funds here in america in july. this flow from bonds or gold or cash into stocks continues. do you believe this, syria, or the fed will stop that because stocks ultimately go higher when there are more buyers than sellers? that's it.
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>> and i think the syrian volatility is not to be minimized but it will be shorter lived. if you look at what the federal reserve is going to dork the time frame of taper and the magnitude of taper, will they switch from going to treasuries to mortgage-backed? those will create a much longer term impactful environment and that's where the pullbacks right now in equity space could provide a buying opportunity but i don't think the great rotation has happened yet. >> hasn't yet. >> 18 billion, a couple billion the previous month, not the great rotation? >> this is still early days? >> kind 6 a good rotation? >> better than average? >> but still early case. what the fed will be doing longer term will be the key drivers. >> i'm going ask you both this question quickry. september is historically the best month to own gold. already has come back and has had quite the renaissance, if you like. would you be owning gold right now? would you be buying gold? >> i think gold itself right now, gold miners gold, stocks,
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small cap space, part of the portfolio, gold right now is a little bit hard to price. wouldn't be overly optimistic. >> if we launch cruise missile attacks against syria, do you recommend to your clients to sell stocks, get out? >> i think it will be a short-term effect. nothing happening long term and i think there will be a short downdraft, and the market will go up and everything will be about tapering. >> got it. thank you very much to matt and to steve. of course, we're watching the syrian situation very closely and any market impact. coming up next on "street signs," as john harwood reported, expecting comments from president obama a few minutes from now. >> plus, our big three segment, three reporters with the top three stories that need to be on your radar ahead of next week. syria probably one of them, just guessing. "street signs" will be back on a friday. announcer: where can an investor be a name and not a number?
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and the reason that we are showing you the white house is that we come back from commercial break is that we know the president will be on the conference call with congressmen and women at 2:15 and we're expecting or do expect the president to come out around 2:30 and possibly address the syrian situation. certainly the american people would like to hear from the president. you heard our interview with congresswoman jackie walorski
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from indiana. >> now to the latest of what's happening on the ground in syria. a report from beirut, lebanon. give us the feeling on the ground as we move further and further towards a potential strike on syria from the united states. >> well, inside syria there is a sense of anxiety among ordinary people, perhaps even a sense of fear reflected in the fact that many are trying to leave that country, according to officials, some coming to lebanon and others to jordan and nearby countries including turkey. there is a tone of defiance coming out of syrian government. they have insisted they will continue to defend their territory in what they are calling western aggression. on the ground inspectors have also completed their work after visiting the site of the alleged chemical weapons attack over the course of the last several days. they have gathered samples and spoken to eyewitnesses and taken blood samples from some of the patients. they plan on leaving the country
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tomorrow and heading towards u.n. to try to present their findings to the secretary-seine general, at least the initial findings, but as we heard from secretary of state john kerry that has no relevance on the u.s. decision making because according to the u.n. itself they are not going to determine who used the chemical weapons but simply chemical weapons were in fact used. that's something that in the eyes of the united states has already been determined. as a result of that, people here are bracing themselves for a possible military strike or some type of military action against syria and that's why the region remains on edge with some of the close allies including iran and hezbollah vowing to at least defend the syrian government and more importantly threatening that if the u.s. does carry out the strike it would lead to a regional confrontation that would not end favorably for the u.s. or its allies. guys? >> thanks very much. just ahead owns skooins signs, we are expecting the president to make a statement expected around 2:30 eastern time. really here in about 14 minutes
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sometime. it's expected to be on syria. odd if it was not. still, the president will be coming out around 230, and also the three things that you have to watch for next week. >> indeed. back right after this break. don't change the channel. [ male announcer ] imagine this cute blob is metamucil.
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that help nascar win with our fans. let's take a very look at hour the markets are performing and give you some sort of indicator to see how nervous the market is about a potential strike on syria. as secretary of state john kerry began talking, we saw the dow drop ten points because he was talking really tough. he said we need to make our decisions on our own time line and what we saw is the market did come off those lows just a little bit towards the end of the street as it was promising there would be a limited and a
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tailored response. net net we're approximately back on that market to where we were pre-speech but obviously we have to wait and see what form the strike takes. >> to be fair, oil, you've pointed this out, mandy is down. stocks are where they were pre-kerry speech. >> correct. >> the market is not moving on the kerry speech. if an attack is expected, it's already priced in period. >> talking about this for some time. one thing i'll say, an elevation in the vix, the wall street fear gauge but not monumental. >> 17. >> 40 used to be considered high in the vix and now it's 17 and it's panic. give me a break. option spreads, 1760 in the vix, you know. that's not high. >> that is not. >> that is not. time for a regular segment. as of last week that we're calling the big three. we've rounded out three of our top-notch reporters to give us the three things to watch ahead of next week. why three? why not? >> a nice round number. >> a good round number.
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even, prime, i think, a negative integer. eamon javers, what are you watching for next week? >> you have to talk about the syria situation. we know the president was scheduled to speak at 2:15. we're expecting taped playback about his remarks about syria so that's going to dominate next woke, both here in washington and around the world. looking at the g-20. the president will go over there in st. petersburg, russia, and the question is will president obama meet with president putin in person? still seems to be a little bit up in the air on that one. obviously so much import in the syria situation as well as elsewhere geopolitically, and then third i'm looking into this situation with the irs and swiss banks, saw an interesting announcement yesterday that the irs is expecting to cut a deal with a lot of swiss banks, opening up an opportunity for them to come clean on u.s. assets. they may have been hiding. we're also expecting very shortly, i'm told, settlement
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announcements potentially from other major swiss banks. that could be a lot of money at stake and a lot of u.s. assets coming back to the united states. next week might be a little early for that, but i'm told it's coming so something on my radar screen. >> i'm an javers, thanks for that. jon fortt, what's the top three things on your radar next week? >> a few things going on in tech, mandy. first of all, an announcement is expected from samsung on wednesday. galaxy note 3 and, of course, the watch. what kind of watch will they have? will it make people look forward to apple's offering or think that they don't need it? around the same time expecting be a announcement from qualcomm at the uplink conference. i'll be there and i'll bring cnbc interviews with paul jacobs and marc andreessen. interesting perspective from both and get their take on the news of the day, and then we have to expect to see an invitation to an apple event next week. 'tis the season to see a new
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iphone. not just the used ones they want to talk about. they want to sell something new. >> i love it. invite season is back. jon fortt, thank you very much. reporter number three with our third topic, steve liesman, what's on your radar for next week? >> three things, guys. data, data and more data, a big week for economic data. a big week for the fed to figure out if it's going to taper at its september meeting meaning it's a big week for the third thing, the markets. ism, manufacturing index, 53.8. first one out of the box. expected to decline but still well above 50 vehicle sales, right in line where they were the prior month, adp in at 170 and jobs at 173 with the unemployment rate unchanged at 7.4% and five public appearances from four presidents, two of them voters at the september 17th and 18th meeting we'll all be following.
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data could be enough to prompt the fed to reduce its quantitative easing. second quarter was revised up more than expected 2.5%. some of that will come out the next quarter and consumer spending in july rose less than expected 0.1%. that is getting -- that's causing people to cause the third quarter is off to a weak start. the key will be to listen to fed officials and when they think of new economic reports and we await word from ben bernanke. his absence in jackson hole means he hasn't made a major speech on monetary policy or the economy since mid-july. guys, the latest data saw, the tracking surveys for the third quarter, 1.6%. back to you, mandy. >> who says though, sorry to jump in, that "street signs" doesn't overdeliver because we promise people three things and actually gave them five. >> what do you mean nine? >> one from the other guy, one from forth and three from
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liesman. >> three from fortt and three from eamon and three from eamon. >> eamon gave us three? >> and how many did forth give us? >> because we ask them to give us three and being the excellent reporters that they are. >> we'll call the report next time three squared. >> yeah. >> perfect. >> immediate to move on. have a market flash. what stock are you watching? >> how about another one to throw into the mix, jc penney. getting more details about who is stepping up to buy some of those shares. this time it's richard perry perry's corp and they have disclosed an additional purchase of shares boosting his stake to a total of 19 million shares or about 8.5% of jc penney's outstanding stock. now, you may remember that jc penney had adopted an anti-takeover provision so a 10% threshold may trigger something like that, but richard perry's perry corp disclosing in a
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regulatory filing, guys, that they now own 19 million shares. they bought those additional 3 million shares at 12.90 from that underwritten deal from citigroup to buy bill ackman's stake in the company. >> thanks very much. street talk time and wall street talk time with a big winner and a big loser on the day. >> plus a 4, which is an even number, a star stock picker guests us his top three. >> can you count in a? >> "street signs" is back in 250u minutes which is divisible by one. i've been doing a few things for a while that i really love-- tdd#: 1-800-345-2550
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street talk is legit because we really are on the street. >> what do you mean for once it's legit? it's usually sylvan avenue. but this is street talk. omni vision is our first stock of the day and our disaster of the day. >> stock down 16%. if you're playing at home, eps beat the street but leaving lots of downside for this. earnings per share as low as 36% and consensus at 49 and downgraded by all kind of firms. this was a $33 stock, mandy,
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back in may of 2011. not anymore. >> let's take a look at what's happening. argos research up from buy to hold. just yesterday she liked that as well. >> down six cents. the reason we tut in t in exsigns is intel has become a huge battleground stock. goldman sachs out last week saying intel is worth $16 a share which is about 6 bucks below where it is right now. now argos is out with their call saying it's worth this much. intel is the sixth worst performer in the quarter. once of the lowest price to earnings ratio in the dow. intel quickly becoming one of the battleground stocks we talked about. >> good news and another good day for the stock of facebook. >> yeah. the target was up to 50 from 38, and they say they are seeing momentum from brand and response marketers. did add, their call depends on earnings momentum, but if that continues the shares should continue to rise to 50 bucks. >> absolutely huge day for cloud
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computing company salesforce.com. >> huge big day for salesforce. huge earnings call, beat on nearly every metric. bookings grew 39%. guidance does leave room to beat streets and investors are underestimating a target deal and one analyst saying that. sales force a big day and had been down 4% coming into today over the last six months. added to a short-term buy list at deutsche bank and le saturday. >> a stock i've not heard of, hornbeck offshore. >> they provide marine transportation so if you need crew or gear, you're welcome, a lot of yelling down here. >> happy cries or sad cries? >> they will help you get crude to an offshore oil platform. jpmorgan reinstating, don't care about reinstatements.
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the reason i put this in, a $67 target on hornbeck. on the market it's a 55 stock. >> i think it's near its all-time high. back to john harwood at the white house. john, what are you hearing? >> reporter: well, president obama has been addressing the press pool as he meets with baltic leaders in the white house. we've not seen the tape. we'll get that shortly, but we have seen some reports coming out of that meeting. obviously i'm not in it myself where the president is reiterating what john kerry has said is he has a range of options available and any response he makes in syria is of limited duration and scope so trying to prepare the ground again fer what we're expecting which is cruise missile strikes on syria. the president has not said that. both john ker and his remarks have paved the way and as i was getting ready to come on a moment ago we got a statement
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from the house speaker's press secretary where he said the president has a responsibility to explain to the american people the objective strategy and legal basis for the attack but did not say that he has the responsibility to get a vote from congress. this is a key question because you've got some members of congress demanding a vote and the administration is being -- has indicated that they don't necessarily intend to seek one, so some latitude apparently coming from the house speaker to the president on his remarks, but, again, we'll wait and get the actual remarks of the president in a few minutes. >> all right. john harwood, thank you very much and we're waiting on the white house. john will be with us, i'm sure, all day long here with the president's comments and the followup, too. it's a friday bonus for you. just did "street talk" and now we'll give you three more picks on friday for your portfolio to a guy with the best name in finance, gene profit and thank
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you so much for joining us. your first pick, franklin resources. tell us why you like the name. >> we like companies with downside protection. there's exposure to emerging markets of 15% to 20% so we think with the selloff that occurred as a result of concern over a fixed income market, increasing, that's a good entry point here at franklin resources. >> okay. let's talk about western digital as well. it's the largest hard disc drive manufacturer in the world, and i believe it's up about 45% so far this year, but you still like it. tell us why. >> well, you have a stock that you're still trading at a single digit pe of around 8 and saw sales forces earnings. western digital is 11ed to cloud computing, and this manufacturer, as you explained, there's been concern with the pc market declining that western
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digital and seagate becomes residential. and trading at the lower end of its five-year range, a great stock to buy in this type of environment. >> that may have an ape but your third pick does not, united rentals, 27 times earnings on a trailing basis. had a nice run a few months ago and has now kind of plateaued. doesn't seem like the kind of name you would like. why could you like it? >> forward pe, pe of around 12, a stock that's completely leveraged to improving economic environment. companies are beginning to lease equipment as opposed to buying it. as the construction psych zinl creasing the pricing leverage is strong here, and only 40% of u.s. markets are leveraged to rentals where you have 80% exposure in the uk, so as the economy improves, you saw caterpillar's earnings being very strong. we think that this company is in
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very prime position and sometimes you did get the companies and it's very high based on historical performance but you have a situation here where the pe is right around 12. >> eugene profit, fantastic name, actually going to ask if you changed your name by default to have the name profit. franklin resources, western digital and united rentals are your three picks. coming up next, we'll be talking value investing and two guests who think they are on to the next big thing. find out where they are putting their money next. >> and this week's two and two, two big movers, one pick from each of us, that's one and one is two. we'll give you our stocks of the week coming up. and hearing everything from our marketing partners, the media and millions of fans on social media can be a challenge. that's why we partnered with hp to build the new nascar fan and media engagement center.
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let's take a look at what wti crude is up to. it's down 1% at 107.67 so it's down today and has a bit of a run-up over the past week. down 1.2% over the past week. that owe commonwealth of independent states to $1.23. obviously it's very closely watching what is happening with regards to any disruption in oil supply in the middle east on any strike in syria. brian? >> time now i guess for the
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regular friday segment called "two-in-two." two stocks that made monster moves starting with my pick, and i'm to it anyway, goodyear tire, gt. >> i object. >> no. doesn't matter. >> doesn't matter. going to barrel on. >> going to do it anyway, like going over niagara falls. this is where the rubber meets the road. goodyear tire and rubber, third best performer in the s&p 500 this quarter. great american company. signed a new four-year deal with the union so they got that out of the way. very economically senseity. want to buy tires. people run their tires literally into the ground, pun intended, so this stock a nice comeback for great american company, goodyear and by the way, you're welcome, happen to be buying some rationing tires, and they are goodyears. >> i'll be the debby downer for the week because i won't let people end on two good notes and give you the other side of the coin. abercrombie & fitch, over the course of this week it's lost 10%. indeed, it's been down 13% this
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month and down another 2% today. this is a company that has had a lot thrown at it recently. got all kinds of things happening out there. lower traffic, apparently the teens say it's not cool anymore and a lot of intense competition from discount retailers who bought players like h & m and forever 21, et cetera, so what we're seeing is eps estimates coming down and price targets being cut on abercrombie & fitch from names like credit suisse, bmo, you name it, had a pretty tough week. >> thank you. >> thank you. >> what a depressing stock for your pick. >> i'm changing my name to debby, debby downer. happy birthday, warren buffett. the oracle of omaha turns 83 years young so we're celebrating with a rundown of his firm's top holdings, well fargo, coca-cola, ibm, american express and p & g. >> the sum zero holding its second value investing
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conference next month. more than 200 hopefuls from funds around the world submit their best ideas and this is very cool. here with us, three finalists, two of them, joining us now are travis koch and daniel lawrence of elm rocks investment group in new york. did i get that right? >> you did. >> fantastic. >> your idea, a long idea and unusual idea because ashland corporation not real like one of the high fliers, nkind of a chemical company. >> a chemicals business that makes all sorts of mission critical and chemical ingredients that go into consumer products ranging from pharmaceuticals to paint and we think the stock offers upside with at lifts over the next 24 months. first, we think the market does not appreciate the transformation of the business from a low margin and more cyclical commodities business to a list cyclical and high margins
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specialty chemicals business. two, we think the street underestimates the amount of cash flow generated over the next few fiscal years and the degree to which the cash flow is returned to shareholders. two, a third of its businesses are significantly undervalued and misunderstood by the market. >> that's ashland. let's take the other side of the coin. travis, i believe your idea is a short call on exact sciences. what does the company do, and why do you want to short it? >> that's right. exact sciences is a cancer diagnostics firm whose sole product colo guard is a stool-based dna screening for colorectal cancer, the third iteration of the product and the previous two were failures, and this time around management is overhyping the product, completely downplaying the competition, and should the product actually receive fda approval and medicare coverage, we think that the reimbursement rate could come in substantially lower than anticipated and they will once again fail to achieve commercial success, and if we're wrong and the optimistic sales
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projections do pan out the stock would still be overvalued. >> so you're not saying that you necessarily rely on that one thing for the stock for exact sciences to fall. you believe even fundamentally the stock is destined to fall because of its valuation? >> that's right, even if -- even if cologuard receives medicare approval and gets reimbursement the stock would be overvalued based on the relative value to comps. can still pass fda and the trade can work out handsomely from the short side. >> travis and daniel, thank you very much for joining us today. enjoy the long weekend and read all about this on "street signs." >> just to recap their ideas. daniel says go long ashland and travis says go short exact signses, exas is the ticker and long ash, we'll see who is right
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down the road. >> log on to have investing.com. the dow currently off a singon, down about 20 point right now. >> taped comments are coming now from the president. >> everybody all set up? >> well, obviously i'm very grateful to have my fellow presidents here as well as the vice president. before i begin i want to say a few words about the situation in syria. as you've seen today we've released our unclassified assessment detailing with high confidence that the syrian regime carried out a chemical weapons attack that killed well over 1,000 people, including hundreds of children. this follows the horrific images that shocked us all. this kind of attack is a challenge to the world. we cannot accept a world where
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women and children and innocent civilians are gassed on a terrible scale. this kind of attack threatens our national security interests by violating well-established international norms against the use of chemical weapons, by further threatening friend and allies of ours in the region like israel and turkey and jordan, and it increases the risk that chemical weapons will be used in the future and fall into the hands of terrorists who might use them against us, so i have said before and i meant what i said that the world has an obligation to make sure that we maintain the norm against the use of chemical weapons. i've not made a final decision about various actions that might be taken to help enforce that
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norm, but as i've already said i have had my military and our team look at a wide range of options. we have consulted with allies. we've consulted with congress. we've been in conversations with all the interested parties, and in no event are we considering any kind of military action that would involve boots on the ground, that would involve a long-term campaign, but we are looking at the possibility of a limited, narrow act that would help make sure that not only syria but others around the world understand that the international community cares about maintaining this chemical weapons ban and norm. again, i repeat we're not
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considering any open-ended commitment. we're not considering any boots on the ground approach. what we will do is consider options that meet the narrow concern around chemical weapons, understanding that there's not going to be a solely military solution to the underlying conflict and tragedy that's taking place in syria, and i will continue to consult closely with congress in addition to the release of the unclassified document. we provide a briefing to congressional staffs today and will offer that same classified briefing to members of congress, as well as our international partners, and i will continue to provide updates to the american people many as we get more information. with that, i want to welcome the
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presidents. >> saying he cannot accept a world where women and children and innocent civilians are gassed on a terrible scale, the president though did seem to soften his stance perhaps on syria saying no decision about action had been made. he did say there would be no open-ended commitments and open-ended commitment and no boots on the ground in syria. let's go back down to john harwood. john, is this a misread by me? does it seem like the president is softening his stance somewhat? >> reporter: i don't think so. i think what the president was doing was trying to address the reservations of the american public, which is, at best, split and have a lot of misgivings about another american conflict in this region after ten years or more in iraq and afghanistan. so, i think what the president was trying to do is emphasizing what won't happen. he said would be limited, narrow in scope. vindicate american interests as well as the interests of those
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children and other victims in syria of chemical weapons because he said it would threaten -- by allowing that international norm to be violated, it would threaten israel, turkey, jordan, our allies in the region, and also threaten the national security interest of the united states. trying to make a firm case for the american people, as well as for congress, that an attack would be justified. >> john harwood, thank you very much, buddy. >> we should probably mention, i don't know if we're reading too much into this, but it felt to you he was slightly softening his stance but john harwood disagrees. >> no decision has been made. it seemed a softer made. >> the dow was down 25 points. it's come off those lows. >> and i know it's tough, especially -- can we bring that back up? it's an intraday dow. if you're on the radio it's hard because it's like, what the hell
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are you talking about. when secretary kerry started talking, the dow fell. not much, then fell. we're almost at our highs of the day. the market rallied into the president's comments. we're still down but down far less than they were. they are moving a bit -- kerry was tough. the market fell. the president was softer -- >> maybe the president was saying it's an open-ended commitment -- >> look, kerry was tough, stocks fell. the president was soft, stocks rebounded. there's your correlation. that chart is really important, i think, and says a lot. >> we'll keep an eye on it. up next, summer sizzlers and fizzlers. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros
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wow. what a summer it has been so far. let's talk some sizzler stocks and also fizzler stocks of the summer. joining us brent willsie. brent, first off, mandy rained on our parade last time. we'll start with the fizzlers. i'll be the downer. who are the fizzlers of the summer? >> i always say sizzlers today can be the fizzlers tomorrow and
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the duds can be the suds. let's talk about fizzlers. jcpenney. say wait until they go through bankruptcy. we have a tombstone around this company. they're projected to lose $543,000 this year. they keep moving. it's on life support. be done with it, have it be over. >> tell us what you really think, brent. let's talk about the sizzlering. we have gamestop, best buy, good year, e-trade amongst others. of those, any you think will continue to be a sizzler and not tomorrow's fizzler? >> yes. sizzler would be gamestop.
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they got no debt. still only 13 times. earnings per share. they're down 197%. i looked at the income statement. it's because they wrote off $600 million goodwill. ignore earnings down. it was an accounting thing. the peg ratio is 1.14, very positive. target sales share coming around 63. if you come around 49, you're making a good run. >> we like it, sizzlers, and great old stackhouse, too, sizzler. brent, thank you very much. >> thank you very much for watching "street signs." i'll be on "closing bell" after this. we'll monitor if we get any information from syria. >> have a great weekend. take care of. thank you very much. ok guys, i'm back. i need a template of a template. oh my gosh. i've never even seen this record, i've only read about it in books.
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considered open-ended commitment. we're not considering any boots on the ground approach. what we will do is consider options that meet the narrow concern around chemical weapons, understanding that there's not going to be a solely military solution to the underlying conflict and tragedy that's taking place in syria. >> this is evidence. these are fact

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